Jessia Lautz (Natl. Association of Realtors, Renters Wanting to Buy)


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

If you missed any part of today's show not to worry go to financial exchange show don't come and click the listen. Then click on demanding catch up on every segment. You'll also find podcasts of all of our poll shows just punch of that listen button had financial exchange show does come. This segment of the financial exchanges. Brought to you in part by the US Virgin Islands economic development authority. Hurricanes Irma and Maria were devastating. For the allens are already well on their way to recovery if you want to start relocate or expand your business the US Virgin Islands is one of the most competitive business locations. Ian and the Caribbean take advantage of the incredible tax incentives that are fully sanctioned by the US government in for more information. Go to US VI. EDA dot org that's US VI. EDA. Dot org or call 855622. 3634. Joining us on the line right now is just a lot from the National Association of Realtors and Jessica. Thank you for joining us. Just guess that you put together this survey it's called the National Association of Realtors the aspiring homebuyers. Profile what exactly was this designed to measure first double. LB take a survey kind of brain month a that a lot ear and it actually a balanced Irving were getting all the non owners and homeowners. And we're asking them questions about it now content that I is not good and Al on the and we actually compiled all the data over the last year over 2017. To really look at those were not donors. So the ones who were non owners how many of them want to buy homes right now. And we actually I inspect eighty purse I didn't as non owners who want him on a home in the future. They believe that homeownership as part of their American dream but it out of reach about right out. One of the biggest reasons for it being out of reach is it supplies and prices of both. You know it's both of those things that we XP aspirin and other actions Q about their purse not to eat what went on an ally. I am and we find that some people who need that flexibility a friend saying it's also affordability have backed panel felt like Al consideration. It think it made by it when they get married when I retire when they start Italy and they will buy a home but it really Blake looking at what else is going on and out as well. Just I was gonna ask just good deed to historical context for these membership for example 56% of non homeowners say they don't feel like they can afford to buy a home. Does that stack up to five or ten years ago. We don't unfortunately get that a relatively new term rates in coming up a couple of years here. Now what we are seeing is that act you are numbered at fifty experts and it's very similar to what we thought you are last year. But we do you you're gonna last year 2017 got to increase. I'm weak side and you won 51% and that they don't think they can afford to buy it on the ballot if you pick. I feel like affordability is apparently hit a constraint you hear about and great at telling Japanese suddenly that help to get together and talk about. Just what are the biggest reasons people say they want to own a home. So again I can't test flight pile it ain't being with their credit battleground in the future they think that their financial situation that kind of group made it look at a boat at. Promotional aspire. Eating it up with a bit of a paperback document. I and that is fired a final time Lamotte he's speaking about eight different but they aren't going to be in the long current president of the short and here in the city. And that is where I wanna be in the or when I held out. Looking at I don't know if this the survey goes into this. Do you take any. Examination of the types of homes of people wanna buy say condos verses single family or do you not get into that. And we don't didn't spot in that survey but will we you know from another part array of pick up all homebuyers. Is that single family homes the traditional three that are cheap act in the Albert. I did very traditional family structure where people typically purchased call out is available inventory Tokyo. It very difficult and the others but there's restricted building mom to be able board at Condo Ernie buyer. Just one very interesting number and here's 51% of raptors told you'd expect directed go up this year. 42%. Say they would just resent her release only 25% say they would look for. A cheaper rental certainly for stock investing show those those feel like bullish numbers that people feel like they can take a rent tech. Yeah I mean I think that some people once they're huddled and once you unpack all the box that you really don't wanna move again picking do you expect your plan markets probably at an increased rent audio. And I think it's really interesting Q when we look at the average and very few actually I and other remain book a way to reduce their hot it would probably just. They titled. I think that is an interesting number. Just go we appreciate taking the time have a great weekend to catch up soon. It just a loss from the National Association of Realtors Tucker you forget arena fire your search up for the spring. Yeah I was just gonna say we were poking around last night we're stole the motive like adding to our savings for down payments are not quite there yet but just based work with Seymour more listings being posted a discuss springs around the corner and it's coming but the listing that I saw. This morning actually in his shoes absurd and it's speaks to how old. I guess it seemed like the housing market issues inflated its 700 square foot home good location move in ready. 320000. Dollars for 700 square foot home will now it of the knots.